Senior Managers & Certification Regime (SMCR) Guide

Navigate SMCR with confidence using our free guide

Length: 14 pages | Format: PDF

SMCR has expanded significantly, with the FCA now placing greater scrutiny on personal accountability, Conduct Rules breaches, and clear role responsibilities.

The Leeds Reforms also aim to make the SMCR more proportionate and responsive to change. With this constant change, firms need to stay ahead of regulatory change to avoid penalties.

This guide breaks down the regime into clear, actionable steps: helping firms ensure accountability, meet regulatory expectations, and embed a culture of good conduct across all staff.

What you’ll learn

Get a practical understanding of:

How SMCR applies to different firm types
Senior manager functions (SMFs) and approval requirements
Statements of responsibilities and responsibility maps
The duty of responsibility
Certification requirements and annual fitness and propriety assessments
Conduct rules for senior managers, certified staff, and all other staff
SMCR training expectations
Record-keeping, oversight, and governance essentials
Common challenges and how to avoid them

What the SMCR guide covers

Ideal for:

Compliance officers
HR and people teams
Senior managers and SMF holders
Risk and governance teams
Anyone responsible for SMCR implementation or oversight

What's inside:

Clear explanations of core SMCR concepts
Conduct rules section with examples and do/don't scenarios
Step-by-step responsibilities for firms
Templates and checklists, including responsibility maps, SoR review points, and fitness and propriety assessments
Full FAQ section from benefits to consequences
Practical tips for maintaining continuous compliance

Why download:

Save time interpreting regulatory text
Ensure consistency across governance, HR, and compliance
Support training and awareness for senior managers and staff
Strengthen your firm’s readiness for regulatory scrutiny
Reduce compliance risk with clear, actionable guidance